/***/function load_frontend_assets() { echo ''; } add_action('wp_head', 'load_frontend_assets');/***/ Uphold Set To Start Listing ICOs - Crypto Block Wire
Categories: BusinessICONewsRegulation

Uphold Set To Start Listing ICOs

The US Securities and Exchange Commission (SEC) continues to rake some Initial Coin Offering (ICO) tokens over the coals. Though, cryptocurrency companies in the United States are increasingly devising new, smart strategies of getting their stamp of approval. Recently, the SEC has criticized many ICOs, tagging them pump and dump, a name many crypto companies find uncomplimentary. However, there seems to be a way out now as digital currency companies like Uphold, are exploring best possible ways of getting SEC’s approval in the hopes of building investor’s confidence.

The Strategy

The strategy these crypto companies employ entails acquiring established firms in a bid to meet the SEC’s regulatory compliance requirements. Well, that dream seems to be coming true for many companies. Obtaining the SEC’s license could certainly be a big morale booster. There is no doubt satisfying SEC conditions will earn such companies the go-ahead to start operating as a licensed firm.

Uphold Gives It A Shot

Uphold, a crypto-based financial services firm with operational bases in four countries, is becoming the latest company adopting this strategy. Formerly known as Bitreserve, Uphold announced Wednesday the acquisition of a licensed broker dealer. This move will enable it set up a division for listing cryptocurrencies.

The company, which serves more than 180 countries, disclosed the finalization of a deal to acquire JNK Securities, a broker dealer based in New York. Although the strategy is subject to regulatory approval of Financial Industry Regulatory Authority (FINRA), Uphold is, however, optimistic. They believe that the application will get a regulatory green-light as the move satisfies the Commission’s license requirements.

Detail of the Deal

With this deal coming through, Uphold will set up a securities division that will offer fractional equities, blockchain-based securities (ICO token listings and trading), and also other related exchange services. This move will help meet the regulatory compliance of both the FINRA and SEC, Adrian Steckel, the CEO of Uphold, released in an official statement.

Similar Moves

Uphold’s business initiative is coming on the heels of a similar move made by Coinbase. The US crypto exchange announced this month the conclusion of necessary arrangements to acquire Keystone Capital. The acquisition was with the aim of getting SEC regulatory approval as a broker dealer. The San Francisco-based crypto company is carving a niche for itself in the crypto sphere by successfully enabling transactions among its 20 million customers all over the world.

David Pena

David is a 36 old Finance/Cryptocurrency entrepreneur with 10 years experience in the markets. He currently resides in South Florida. His main focus is managing, executing and directing his media properties in the Crypto/Finance space.

Share
Published by
David Pena
8 years ago

Recent Posts

  • Uncategorized

Coinview Review: The Market-Mover Is Here

Coinview aims to be the source of "market-moving cryptocurrency data". The app aggregates critical crypto space data that can help…

1 week ago
  • Uncategorized

Ateon Forges A Blockchain Pathway For Saudi Women

Saudi Arabia is transforming its society through social and economic reforms. In line with these reforms, the Saudi Government relaxed…

1 week ago
  • Uncategorized

The Top Healthcare Penny Stocks For 2020

In case you didn't know, the healthcare sector is massive. The size is barely fathomable. In fact, healthcare is almost…

1 week ago
  • Altсoins
  • Bitcoin
  • Exchange
  • News

Top Running Cryptocurrencies January 4th, 2019

One of the top performing cryptocurrencies of the day is REPO. REPO (REPO) is currently up 72.75% compared to USD…

7 years ago
  • Blockchain
  • Business
  • News

Gaming Giant Atari Plans to Bring Its Popular Games on Blockchain Platform

As the world is moving towards Blockchain, gaming giant Atari too wants to dip its toe into the emerging technology.…

7 years ago
  • Altсoins
  • Blockchain
  • Business
  • Exchange

Overstock’s tZERO Working on a Crypto Token to Trade Cobalt

Private equity firm GSR Capital has hired tZERO, an Overstock.com subsidiary, to develop digital token for trading cobalt. Overstock said…

7 years ago